Here's the Analysis of #SNX :

#SNX is been moving within a parabolic move in a mid-term period and building liquidity below the a Major Resistance area around $5.36. Well, price is pushing aggressively with the #BTC hitting #70,000 mark again. so it wait for wait for a retracement or flip above the zone before any sort of buy and yes shorting would be low probable.

#BTC didn't have the retest and made its flip above the neckline from the Head & Shoulder Pattern. Currently, price is retesting back the zone as support and now ready to move higher. Daily Market Structure Turned Bullish, so expected to have it continuation.

#BTC.D UPDATE :

#BTC.D (#Bitcoin Dominance) forming a triangle pattern and made a continuous ranging below the Major Resistance Zone of 54.50% - 54.60%. A new Support is build at 53.00% - 53.15% where index kept on bouncing. A break of either side will decide the trend in altcoins but the only thing is #BTC either slowly pushing up or remain stable.

Funding Rates goes negative this coming week. Now, this might be catalyst that will push the price this week.

What is #Funding Rates ?

#Funding Rates refer to the fees that are paid between #traders on perpetual #futures contracts. Perpetual futures contracts are a type of #derivative contract that allows traders to bet on the future price of an #asset without actually owning it.

Funding Rates are used to maintain the price of a #perpetual futures contract to the price of the underlying asset. These fees are typically paid between #buyers and #sellers of the contract and are used to ensure that the price of the #contract stays close to the actual price of the underlying asset.

The Funding Rate is calculated every fixed period (usually every eight #hours) and is paid by traders who are on the opposite side of the contract. For example, if the Funding Rate is #positive, long positions (buyers) will pay short positions (sellers). Conversely, if the Funding Rate is #negative, short positions (sellers) will pay long positions (buyers).

The Funding Rate is determined by the difference between the current price of the perpetual futures contract and the price of the underlying pair, as well as by the current market #demand for the contract. When there is a high demand for #long positions, the Funding Rate may be positive, and when there is a high demand for #short positions, the Funding Rate may be negative.

Funding Rates are important for traders to consider, as they can have an impact on the #profitability of their trades. A high Funding Rate can eat into profits for traders who #hold their positions for an extended period, while a low Funding Rate may be an #opportunity for traders to profit.

Here's the Analysis of #HOOK :

#HOOK is been kept moving back and forth between the Major Resistance zone of $1.48 - $1.52. Price now testing the zone as major support zone and expected a bounce from here. Price formed a new a resistance zone around $1.640. Accumulation can be good here to go.

#BTC did moved alot from the expected area but we can see it kept on holding the support zone. Price making multiple retests and trying to push ahead. This week, might have the slightly bullish close, so expected a push from here.

#TOTAL MARKETCAP UPDATE :

#TOTAL MARKETCAP Looks healthy in which and bullish as of now after the strong fluctuation in the market, Index now stuck between the zone of support around $2.40T - $2.44T and Resistance area of $2.63T - $2.65T. Breakout will resume the extreme greediness in the market and continue the bullrun.

#Bitcoin market had reached several statistically significant levels with respect to Unrealized profit held within the supply. Metrics like MVRV and the AVIV Ratio reached +1 standard deviation from their long-term means.

Past instances have historically been points of interest, where the market finds a degree of resistance, and some investors start to take profits and chips off the table.

What is #MVRV Ratio ?

The #MVRV (Market Value to Realized Value) score is a metric used to assess the #valuation of a cryptocurrency by comparing its market value to its realized value. The #MVRV score helps to gauge whether a cryptocurrency is overvalued or undervalued based on its #historical price movement.

The market value of a #cryptocurrency refers to its current price multiplied by the total supply of #coins in circulation. On the other hand, the realized value takes into account the price at which each coin last moved on the #blockchain, essentially measuring the average price at which investors acquired their holdings.

So what does that Indicate ?

#MVRV Values > 3.5 has generally served as a strong signal for late stage #bull cycles, and heightened probability of heavy #distribution or simple indicate a potential Market Top.

#MVRV Vales < 1.0: indicates that a large cross-section of the #supply is near break-even, or held at a loss. These low values have typically provided strong signal of market capitulation and late stage #bear accumulations or Simply Indicate the Market Bottom.

#Fidelity submits S-1 form for Spot #Ethereum #ETF, which includes Staking.

Here's the Analysis of #ENJ :

#ENJ is been correcting itself and kinda ranging too. Price broke the trendline showing signs of bearishness and expecting to wipe out the liquidity below and tap-in to support zone of$0.40 - $0.41. If you're looking buys then wait for the zone or a flip above $0.545 will be good for longs too.

#BTC made a flip back below the zone and retesting too. Price moving back and forth over this zone and that good as consolidation is always good for the next rallies. Bias are always bullish since last week, so this week + next week will clear out the picture.

#BTC #ETF had a +$243.5M net inflows Yesterday.

What Is an On-Balance Volume (OBV)?

On-balance volume (OBV) is a method of forecasting the price changes in an asset by using the element of volume change. OBV is a compounding indicator that builds up the volume on up days and detracts volume on down days to gauge the purchasing and selling pressure.

According to the OBV principle, the 24-hour volume is deemed ‘up-volume’ when an asset's price closes higher than the previous close. On the other hand, the entire day's volume is deemed ‘down-volume’ when the asset's price closes lower than its previous close. OBV will only operate on markets with exchange volume, just as other volume-based indicators, like the Klinger oscillator, money flow index, and negative volume index.

Joseph Granville is the founder of on-balance volume (OBV) metric. According to him, volume defines how the financial markets work, and the price movements occur based majorly on volume. Granville believed that the price eventually sees a huge spike (upwards or downwards) if the market volume of an asset experiences a sharp increase.

A great way to look for resistance breaks is to consider the closing prices that are the main players in the OBV realm. However, the OBV indicator can become useless for a certain period due to sharp volume spikes, and in this case, traders should wait for the settling period (the time between the trades that an order is executed in the market) to be over.

A trend reversal in the bullish or bearish direction can be predicted through divergence signals. They are based on the idea that volume always comes before price (similar to OBV). Therefore, when OBV goes down or closes lower than its previous low, a bearish divergence is formed. A bullish divergence, on the other hand, is when OBV rises and closes on a higher closing price than its previous close.

An important point to note here is that OBV, alone, is not enough to predict the bearish and bullish trends of the market.

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